US livestreaming and podcasts firm LiveXLive is a public company, so it’s one of the few companies in that space whose numbers we get quarterly insights into.
The numbers for Q3 follow its historical pattern: growing revenues, but also net losses. LiveXLive saw its revenues grow by 51.9% year-on-year to $14.6m last quarter, but it recorded an operating loss of $7.1m – admittedly narrowed from $9.9m a year ago.
The financials include a warning that there is “substantial doubt about the Company’s ability to continue as a going concern within one year from the date that these financial statements are filed” and note that it’s trying to raise money to deal with a working capital deficiency of $11.8m.
LiveXLive also owns streaming service Slacker Radio, and the financials filing sheds some light on how crucial a single deal for that service is. Carmaker Tesla accounted for 66% of LiveXLive’s revenues in the last six months, up from 56% for the same period in 2019.